Cingulate Inc. (NASDAQ:CING) Short Interest Update

Cingulate Inc. (NASDAQ:CING) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 143,100 shares, an increase of 85.4% from the November 15th total of 77,200 shares. Approximately 4.6% of the company’s shares are sold short. Based on an average daily volume of 179,200 shares, the short-interest ratio is presently 0.8 days.

Analyst Ratings Changes

Separately, Maxim Group upgraded Cingulate from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th.

Institutional Trading of Cingulate

A hedge fund recently bought a new stake in Cingulate stock. Armistice Capital LLC bought a new position in shares of Cingulate Inc. (NASDAQ:CING) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 490,000 shares of the company’s stock, valued at approximately $157,000. Armistice Capital LLC owned approximately 6.67% of Cingulate as of its most recent filing with the Securities & Exchange Commission. 41.31% of the stock is currently owned by institutional investors and hedge funds.

Cingulate Stock Performance

CING stock traded down $0.01 during mid-day trading on Friday, hitting $4.21. 37,020 shares of the company were exchanged, compared to its average volume of 1,077,134. Cingulate has a 1-year low of $1.80 and a 1-year high of $152.40. The firm’s 50 day simple moving average is $4.31 and its 200 day simple moving average is $3.57.

Cingulate (NASDAQ:CING) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($1.83) earnings per share for the quarter, topping the consensus estimate of ($2.22) by $0.39. On average, analysts expect that Cingulate will post -9.26 earnings per share for the current fiscal year.

About Cingulate

Cingulate Inc, a biopharmaceutical company, focuses on the development of pharmaceutical products for the treatment of attention deficit/hyperactivity disorder and anxiety in the United States. The company’s stimulant medications are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, as well as CTx-1302 (dextroamphetamine), which is in investigational new drug application development for the treatment of attention deficit/hyperactivity disorder intended for children, adolescents, and adults.